Tuesday, November 30, 2004

Study compares housing wealth to stock wealth

Can you guess the result? That's right, housing outshines stocks in this study!

To read the online article, go here.


And, October home sales remain strong!

The National Association of Realtors® (NAR) reports that October sales of existing single family homes was the forth highest on record.

NAR reports that "The national median existing-home price was $187,000 in October, up 8.8 percent from October 2003 when the median price was $171,800. The median is a typical market price where half of the homes sold for more and half sold for less."

To read about the details, go here.

Sunday, November 28, 2004

FREE CREDIT REPORT!

Beginning in December of 2004, "...all U.S. residents will be permitted a single free credit report under the Fair and Accurate Credit Transactions Act. Also known as the FACT Act, the measure phases in the one free report per year across the country, starting on Dec. 1 in 13 mostly Western states and spreading to the rest of the nation by Sept. 1, 2005."

To read about this online, go here.

Friday, November 26, 2004

California Association of REALTORS® (CAR) predicts record year in 2005

Think housing prices are high? Well, if you believe the CAR, then housing prices will get higher in 2005. In fact, the CAR predicts that California housing will experience a 15% gain in 2005. The CAR attributes this "to low mortgage interest rates, an awakening economy, and a severe shortage of housing."

To read the online article, please read here.

Wednesday, November 24, 2004

Strong resale housing market continues!

The NATIONAL ASSOCIATION OF REALTORS® reports that "Total state existing-home sales activity in the third quarter was at the second-highest pace on record, with 36 states posting increases from a year ago."

This nationwide survey indicates that the top three markets are (in order) Arizona, West Virginia and North Carolina. First-time buyers are still a strong force in the market.

To read the online press release, please go here.

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J.D. Power rates Home Mortgage Providers

An interesting study is online from J.D. Power titled "J.D. Power and Associates 2005 Home Mortgage Study". This Study "is based on responses from more than 11,000 home mortgage customers" and ranks companies based from the viewpoint of the consumer. If you are considering a home loan, you might want to look at the survey first!

To see the ratings, go here.

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National Association of Home Builders (NAHB) says housing starts rebound in October

The National Association of Home Builders reports that the month of October saw the housing market play a little game of "catch up" after September's wet weather. The government reports that housing "...starts rose 6.4 percent to a seasonally adjusted annual rate of 2.03 million units in October, more than offsetting the weather-related dip recorded in the previous month."

Regionally, the NAHB reports that "... starts posted the biggest gain, of 20 percent, in the Northeast, followed by an 8.6 percent boost in the Midwest, a 5.0 percent lift in the West and a 4.0 percent improvement in the South."

To read the press release, please go here.


We now continue our blogging after taking a short break. Check back for our every-other-day updates and thank you all for your kind comments in our absense!

Tuesday, November 09, 2004

Housing starts predicted to decline in 2005

The National Association of Home Builders (NAHB) is predicting that housing starts will decline in 2005. While this Association feels that the housing market will remain strong, their prediction of NAHB Chief Economist David Seidersis is "With activity “flattening in 2005,” Seiders is forecasting a decline in housing starts next year of about 4.2% to 1.85 million units, down from the 1.935 million starts projected for this year. Sales of new single-family homes are forecast to drop 5.2% from a record of more than 1.16 million this year to about 1.1 million."

Remember, we are talking about NEW homes, not resale homes.

To read the entire press release, go here.

Sunday, November 07, 2004

Mortgage Bankers Association reports increase in loan applications

The Mortgage Bankers Association reports for the week ending October 29, "The Market Composite Index of mortgage loan applications - a measure of mortgage loan applications - was 761.7, an increase of 8.2 percent on a seasonally adjusted basis from 703.9 one week earlier. On an unadjusted basis, the Index increased 7.5 percent compared with last week and was up 11.0 percent compared with the same week one year earlier."


To view the entire online press release, go here.

Friday, November 05, 2004

National Association of Realtors® (NAR) reports strong condo sales

The NAR reports that condo sales remain strong, and are possibly headed toward a 9th record year! The NAR states "The median existing condo price was $197,000 in the third quarter, which is 18.0 percent higher than the same quarter in 2003. The median is a typical market price where half of the units sold for more and half sold for less. By comparison, the median-priced existing single-family home was $188,500 in the third quarter, up 7.7 percent from a year ago."

To read the entire article, go here.